Phosphate Rock Market Report 2026

The phosphate rock market size has grown marginally in recent years. It will grow from $27.72 billion in 2025 to $28.27 billion in 2026 at a compound annual growth rate (CAGR) of 2%. The growth in the historic period can be attributed to growth in agricultural production, rising demand for chemical fertilizers, expansion of animal feed industry, increasing industrial applications of phosphate rock, development of large-scale mining operations.

The phosphate rock market size is expected to see marginal growth in the next few years. It will grow to $30.25 billion in 2030 at a compound annual growth rate (CAGR) of 1.7%. The growth in the forecast period can be attributed to growth in organic and sustainable fertilizers, increasing demand for nutritional supplements in livestock, adoption of advanced beneficiation and processing techniques, expansion of industrial phosphate applications, focus on environmental compliance and green mining initiatives. Major trends in the forecast period include rising adoption of eco-friendly fertilizers, increasing use of phosphate rock in animal nutrition supplements, expansion of automated mining and processing technologies, growing focus on resource efficiency and waste reduction, rising preference for high-purity phosphate products in industrial applications.

The growth in food and feed production is expected to drive the expansion of the phosphate rock market in the coming years. Feed production involves converting raw agricultural products into animal feed. Rising food and feed production is being driven by global population growth, which increases the demand for agricultural output to meet the consumption needs of both humans and livestock. Phosphate rock supports this growth by supplying fertilizers that enhance crop yields, ensuring sufficient raw materials for food and feed production. For example, in October 2025, the UK’s Department for Environment, Food & Rural Affairs (Defra) reported that the total value of UK Food, Feed, and Drink (FFD) imports increased by 5% in current prices, reaching £64.1 ($75.21) billion in 2024, and rose by 7% in real terms (adjusted for 2024 prices) after accounting for trade price inflation. Consequently, the rise in food and feed production is expected to fuel the growth of the phosphate rock market.

Leading companies in the phosphate rock market are seeking innovative methods to strengthen their market position, such as establishing phosphate fertilizer complexes. A phosphate fertilizer complex is an industrial facility where phosphate rock is converted into various phosphate-based fertilizers, like DAP (Diammonium Phosphate) and MAP (Monoammonium Phosphate). This approach boosts the demand for raw phosphate rock, supports market growth, and enhances global agricultural productivity by improving crop yields. For example, in March 2024, EuroChem Group AG, a Switzerland-based fertilizer producer with its own production capacity, launched a $1 billion phosphate fertilizer complex in Brazil. This facility, producing 1 million tonnes annually, aims to reduce Brazil's reliance on imports and protect its agricultural sector from market fluctuations. The plant emphasizes sustainability, featuring low water usage and a clean energy system. EuroChem’s mine-to-farm approach ensures quality and reliability across the supply chain, advancing its goal of promoting food security in Brazil and beyond.

In September 2024, Coromandel International Limited (BSE: 506395, NSE: COROMANDEL), India’s leading agri solutions company, announced the acquisition of an additional equity stake in Baobab Mining and Chemicals Corporation (BMCC), Senegal, for an undisclosed amount. Rock phosphate is an essential raw material for producing Phosphoric Acid, a key intermediate used in the manufacturing of Phosphatic fertilizers. Baobab Mining and Chemicals Corporation (BMCC) is a Senegal-based company engaged in rock phosphate mining.

Major companies operating in the phosphate rock market report are Indian Farmers Fertilizer Cooperative Limited, Vale Fertilizers and Energy Ltd., Nutrien Ltd., Yara International ASA, Mosaic Company, Rashtriya Chemicals & Fertilizers Ltd., Pradeep Phosphates Limited, OCP Group, EuroChem Group AG, ICL Group, PhosAgroCo, Coromandel International Limited, Krishak Bharati Cooperative Limited, Deepak Fertilizers and Petrochemicals Corporation Limited, Misr Phosphate, Hubei Xingfa Chemicals Group Co Ltd., Wengfu Group Co Ltd., Savannah Resources plc, Rock Phosphate Limited, Sam Phosphate Kenya Ltd., Nauru Phosphate Removal Company, Arif Phosphate Limited, Hindustan Fertilizers Limited.

Asia-Pacific was the largest region in the phosphate rock market in 2025. The regions covered in the phosphate rock market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the phosphate rock market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The phosphate rock market consists of sales of quartz, clay, calcite, and dolomite. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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